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Accounting Jeopardy

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What in the Canadian Accounting ... $200 Back to Board After all temporary accounts ... (but not the receipt) of interest. What are Interest Receivable ... – PowerPoint PPT presentation

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Title: Accounting Jeopardy


1
Other Terms
Review Potpourri
Who Cares?
Financial Reporting
Ratios
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2
Ratios - 100
Total Liabilities divided by Total Assets.
What is the Debt-to-Assets ratio?
Back to Board
3
Ratios - 200
Net Income divided by Sales Revenue.
What is the Net Profit Margin Ratio?
Back to Board
4
Ratios - 300
Sales Revenue divided by Average Total Assets.
What is the Asset Turnover Ratio?
Back to Board
5
Ratios - 400
Directional effect on the Net Profit Margin Ratio
if expenses are decreased, everything else
remaining the same.
What is Increase?
Back to Board
6
Ratios - 500
Directional effect on the Debt-to-Assets ratio if
assets are purchased on credit (before the
purchase the DTA ratio was greater than 1).
What is decrease?
Back to Board
7
Financial Reporting - 100
A visual representation of the components needed
for financial misconduct to occur.
What is The Fraud Triangle?
Back to Board
8
Financial Reporting - 200
The name of the group that introduced legislation
intended to curb financial fraud.
What is the Canadian Securities Administrators?
Back to Board
9
Financial Reporting - 300
The three categories of the fraud triangle.
What is incentive, opportunity, and personality?
Back to Board
10
Financial Reporting - 400
Stronger internal controls are intended to reduce
this aspect of the fraud triangle.
What is opportunities?
Back to Board
11
Financial Reporting - 500
This group has the primary responsibility of
setting GAAP in Canada and produces the CICA
Handbook.
What in the Canadian Accounting Standards Board
(AcSB)?
Back to Board
12
Who Cares? - 100
This group of people use accounting information
to run the business.
Who are managers?
Back to Board
13
Who Cares? - 200
______ elect ______ who oversee ______.
Who are shareholders, directors, and managers?
Back to Board
14
Who Cares? - 300
DAILY DOUBLE!!!
15
Who Cares? - 400
This group of people use information in a
governance roll.
Who are directors?
Back to Board
16
Who Cares? - 500
Terms in a loan-agreement (usually tied to some
sort of accounting information) that, if broken,
entitle the lender to immediate repayment or
renegotiation.
What are Loan Covenants?
Back to Board
17
Other Terms - 100
A more comprehensive version of the Statement of
Retained Earnings.
What is a Statement of Shareholders Equity?
Back to Board
18
Other Terms - 200
The type of income statement that includes more
than one subtotal.
What is multistep income statement?
Back to Board
19
Other Terms - 300
The part of the financial statements where
information is presented about the accounting
policies used by a company.
What are Notes to the Financial Statements?
Back to Board
20
Other Terms - 400
The type of financial statements that includes
more than one column.
What is comparative financial statements?
Back to Board
21
Other Terms - 500
The standards that must be used for financial
statement reporting by public corporations in
Canada.
What are International Financial Reporting
Standards (IFRS)?
Back to Board
22
Review Potpourri - 100
Used to update the accounting records relates to
previously recorded transactions.
What are Deferral Adjustments?
Back to Board
23
Review Potpourri - 200
After all temporary accounts have been closed,
the balance in the Retained Earnings account
agrees with the number calculated on this
financial statement.
What is the Statement of Retained Earnings?
Back to Board
24
Review Potpourri - 300
This account records the total amount of
amortization recorded against an asset since its
purchase.
What is Accumulated Amortization?
Back to Board
25
Review Potpourri - 400
An account that is offset to, or a reduction of,
another account.
What is a Contra-Account?
Back to Board
26
Review Potpourri - 500
Accounts affected when you record the earning
(but not the receipt) of interest.
What are Interest Receivable (asset, debited) and
Interest Revenue (revenue, credited)?
Back to Board
27
Daily Double
  • Specify Your Wager!

28
Who Cares? ---
People who use accounting information to value
the business.
Who are investors?
Back to Board
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